Despite facing various challenges, Ho Chi Minh City’s Gross Regional Domestic Product (GRDP) grew 6.46% in the first half of the year, showing signs of recovery.

According to a report by the HCM City Statistics Office, the city’s index of industrial production (IIP) grew 5.6% during the period, the highest increase in the past three years.

The city saw a 10% year-on-year increase in total retail sales of goods and services.

As of June 20, 25,248 enterprises entered the market this year, registering 215 trillion VND in capital, up 9.6% in enterprise number and 1% in capital from the same time last year.

Its state budget collection was also a bright spot at more than 265 trillion VND, rising 16% against the same time last year.

However, the city fell short of its public investment disbursement target, with only 15 trillion VND disbursed by the end of June, or 19% of the set target instead of the expected 30%.

It aims to disburse 73 trillion VND, equivalent to 95% of public investment by year-end.

The city saw a surge in foreign tourist arrivals, with nearly 2.7 million visitors in the first half of the year, up 38% year-on-year and representing 44.6% of the annual target, driven by a series of festivals and tourism promotion events.

It also welcomed over 17 million domestic tourists, up 4.4% year-on-year and making up 45% of the yearly target.

Its tourism revenue saw a notable surge of 14.6% during the period, reaching 92.6 trillion USD.

In addition, progress of the first metro line (Ben Thanh – Suoi Tien) has been 98% completed, with the city aiming to start operations by November.

Phan Van Mai, chairman of the People’s Committee, acknowledged the challenges faced by the city, such as low credit growth and a slow recovery in the real estate market.

To achieve its growth target of 7.5-8% for the year, experts recommend focusing on high-tech industries, financial services, and stabilising the real estate market.

Diversifying export markets and expanding to potential markets such as Japan, the Republic of Korea, and India are also essential strategies to support production and business activities.

Vietnam reported a 6.42% year-on-year GDP growth in the first half, with the Asian Development Bank forecasting a growth rate of 4.6% for Southeast Asia this year.

Vietnam and the Philippines are expected to have the highest growth rates in the region in 2024, reaching 6%./.

Binh Duong to host first Vietnam Advertising Festival

The first-ever Vietnam Advertising Festival will take place at World Trade Centre Binh Duong New City in the southern province of Binh Duong from July 11 to 13.

Vietnam AdFest - Binh Duong 2024 is a large-scale event aiming at introducing and promoting the potential, strengths, and importance of the advertising industry, as well as cultural industries in general.

To be held by the Vietnam Advertising Association, the festival will feature a wide range of activities, a highlight of which is the Vietnam Advertising and Communications Forum 2024. Others include the Vietnam Cultural Show, the 14th Vietnam International Advertising Equipment And Technology Exhibition (VietAd 2024 - Binh Duong), and the Vietnam Entertainment Show. The activities aim to create a chance for businesses to introduce their strengths in advertising, architecture, entertainment technology, performing arts, and cultural tourism.

It will also include a seminar on the current status and development potential of cultural industries, a photo contest titled "Vietnam - World Rendezvous", and thematic workshops.

Advertising is identified as one of the 12 key areas of the strategy for developing cultural industries of Vietnam by 2020, with a vision to 2030.

The Ministry of Culture, Sports and Tourism reported that during 2018 - 2022, the production value of the advertising sector tended to increase year by year, by an annual average of 6.28%, while the average added value rose 6.31% per year. In 2022, advertising revenue reached about 2.19 billion USD, ranking fifth out of 11 Southeast Asian countries in terms of revenue growth. Currently, there are about 3,000 enterprises operating in the field of advertising nationwide.

Ninh Thi Thu Huong, Director of the ministry's Department of Grassroots Culture, said that advertising must be an important link of Vietnam's cultural industries. Therefore, it is necessary to give new vitality to the combination of advertising with cinematography, fine arts, photography, performing arts and cultural tourism to secure sustainable development and successfully implement the cultural development strategy until 2030.

Chairman of the Vietnam Advertising Association Nguyen Truong Son revealed that in addition to revenue, advertising is a tool to convey positive messages to the community, helping bring Vietnamese culture to the world. The boom of information technology and social media platforms makes it easy for advertisements to spread and create great impact on users' behaviour./.

MTA Vietnam 2024 kicks off in HCM City

The 20th International Precision Engineering, Machine Tools and Metalworking Exhibition and Conference (MTA Vietnam 2024) kicked off in Ho Chi Minh City on July 2, gathering more than 320 exhibitors from 15 countries and territories.

The four-day event features a wide range of products including metal cutting, metal forming, metrology, cutting tools, ancillary, and equipment.

Including 13 international group pavilions from Taiwan (China), Germany, the Republic of Korea, Singapore, China, and Italy, among others, it is expected to be a good chance for Vietnamese firms to learn from international experience and seek business partnership and technological transfer.

Participating units will have a chance to introduce products and services, and promote brands while updating cutting-edge innovative measures in the industry.

A highlight of the exhibition is the return of the Vietnam Industrial Robotics and Automation display space with a wide range of advanced automotive technologies from leading firms such as Fanuc, Universal Robot, Eco Smart, IDEA, Vimala, and Eurorack.

Under the umbrella of the MTA Vietnam 2024, the second Robot “MTA Challenges” contest will also be held.

It is forecast that the Vietnam’s robot market will witness a vigorous growth in the near future, with an estimated revenue of 356.7 million USD in 2024, of which industrial robots are expected to lead the market with a value of up to 309.8 million USD the same year./.

Hanoi’s GRDP estimated to grow 6% in H1

Hanoi’s gross regional domestic product (GRDP) in the first half of 2024 is estimated to increase 6% compared to the 5.86% growth in same period last year.

According to the Hanoi Statistic Office, In the second quarter of the year, the capital city’s industrial production has shown signs of recovery as the number of orders have continued increasing. In the January - June period, the index of industrial production (IIP) rose 5%, of which processing and manufacturing industry expanded 4.1% while product consumption climbed to 13.1%.

The IIP in the second quarter surged 5.7% year on year, of which processing and manufacturing industry was up 5.1%, electricity production and distribution and water supply, waste and wastewater treatment up 10.7%, mining up 2.3%. The figures have demonstrated the recovery of the capital's industrial activities.

Notably, 77.4% of enterprises in the processing and manufacturing industry said that the production and business situation in the second quarter was stable and better than the first quarter, and 82.2% of firms forecast that the situation would be stable and better in the third quarter of 2024.

Also in the first half of this year, the city attracted 1.165 billion USD of foreign investment, including 1.03 billion USD poured into 120 newly registered projects, 55 million USD added to 78 existing projects, and 74 million USD as capital contributions and share purchase by 104 foreign investors.

In the reviewed period, Hanoi had 15,500 newly registered enterprises, down 3% from the same period last year, with registered capital of 149.2 trillion VND, down 3%.

Besides, more than 6,000 enterprises resumed their operations, a surge of 17%, while nearly 2,100 enterprises disbanded, up 14% and nearly 17,000 others suspended operation, up 14%.

Meanwhile, goods export turnover accounted for 8.9 billion USD, up 11% year on year. The domestic economic sector reached an export turnover of 5.2 billion USD, up 14.8%, and the foreign-invested sector reached a turnover of 3.7 billion USD, up 6.1%.

Some main commodity groups saw an increase in export turnover, including computers, electronic goods and components reaching 1,256 billion USD, up 13.6%; means of transport and spare parts, 1.069 billion USD, up 29.5%; machinery, equipment and spare parts, 1,050 billion USD, up 7%; and agricultural products, 836 million USD, up 58.5%.

In the second half of 2024, Hanoi will focus on ensuring economic stability and growth, controlling inflation, and addressing difficulties in production and business while promoting new growth drivers.

The city will also seek to restructure the economy substantively, innovate the growth model to enhance productivity, quality, efficiency, and competitiveness; and promote digital, green, and circular economies.

Alongside creating mechanisms and policies to stimulate socio-economic development, the city will push for urban technical infrastructure development and improve the efficiency and quality of state management in planning, land, urban areas, and environmental protection.

Hanoi will also focus on developing cultural and social spheres, effectively celebrating the 70th anniversary of the Capital's Liberation; improving education and training quality; and developing high-quality human resources linked to the promotion of scientific and technological research, development, and application. The city will pursue administrative reforms, streamline the organisational structure for greater efficiency, and effectively combat corruption, negativity, and waste.

Importantly, the city will reinforce social order and security, fire prevention, and rescue, particularly in high-risk areas. It will maintain robust foreign relations, strengthen information and communication efforts, and to promote public mobilisation to create high consensus and unity among the people./.

Bac Giang lures 2.7 billion USD from RoK investors

The northern province of Bac Giang has to date attracted 365 projects from the Republic of Korea (RoK) with a total registered capital of nearly 2.7 billion USD.

According to the provincial Department of Foreign Affairs, the RoK now ranks first in the number of projects, and third, after China and Samoa among the 30 countries and territories investing in the locality, in terms of capital.

Trade between Bac Giang and the RoK reached 16.3 billion USD last year, and some 5.99 billion USD in the first five months of this year. The Northeast Asian nation is Bac Giang’s second biggest importer, after China.

Bac Giang city has signed a cooperation agreement with Seo district of the RoK’s Daejeon city, under which they have stepped up delegation exchanges, and collaboration in green, smart urban area building, economy, education, culture, health care, tourism and public administration.

Over the past time, programmes, projects and aid packages launched by the RoK’s non-governmental organisations and businesses have benefited children, the elderly and those in difficult circumstances in the province.

Director of the department Ngo Bien Cuong said the province will expand and enhance friendship and cooperation with Korean partners in various spheres in the time ahead, from industry to trade and services./.

Vietjet to launch new route connecting Nha Trang with RoK’s Daegu

Private carrier Vietjet announced its new route linking the central province of Khanh Hoa’s Nha Trang beach city to the Republic of Korea (RoK)’s Daegu city at the Vietnam-RoK culture-tourism cooperation promotion forum held in Seoul on July 1.

The route is scheduled to commence on October 27, with seven round-trip flights each week.

According to a Vietjet spokesperson, Daegu is one of RoK’s largest cities, featuring popular tourist attractions such as the Palgongsan Mountain, Cosmos Fields, Apsan Park, Woobang Tower, Daegu Arboretum, Mangwoo Park, and Gyeongsan-gamyeong Park. Meanwhile, Nha Trang is a world-renowned coastal city, known for its mild climate, rich culture, and diverse cuisine.

Since 2014, the carrier has transported 10 million passengers on more than 37 scheduled and charter routes between the two countries. Vietjet currently operates the highest number of air routes between the two sides, connecting Ho Chi Minh City, Hanoi, Hai Phong, Da Nang, Nha Trang, Phu Quoc, and Da Lat with major Korean cities such as Seoul, Busan, and Daegu.

In 2023, Vietnam welcomed 12.6 million international visitors, including 3.6 million from the RoK, making it the largest foreign tourist market of the Southeast Asian nation./.

PM meets leaders of Korean economic groups in Seoul

Prime Minister Pham Minh Chinh had separate meetings with leaders of the Republic of Korea (RoK)’s economic groups in Seoul on July 1 within the framework of his ongoing official visit to the country.

Receiving Cho Hyun-joon, Chairman of Hyosung Group, which has operated in Vietnam since 2007 with a total investment capital of nearly 5.1 billion USD, the PM commended its effective operation in industry, construction, trade, information-technology, and biotechnology, among other fields, as well as its contributions to socio-economic development in the Southeast Asian nation.

Lauding Hyosung’s investment expansion plan in Vietnam, Chinh affirmed that the Vietnamese Government will facilitate its operation, and suggested the group pay more attention to environmental protection, and connectivity with local firms.

The PM showed his support for cooperation between Hyosung and Ba Ria – Vung Tau, under which the southern province is expected to become a centre for production of biotechnology and advanced materials in Vietnam and the region.

At a meeting with Lotte Group Chairman Shin Dong-bin, Chinh suggested the business expand investment in such areas as smart urban development, contributing to spurring tourism, and pledged to support it in implementing large-scale projects.

Shin, for his part, expressed his belief that Vietnam will grow further and become a highlight of the global economy, and his hope for mutually beneficial economic cooperation.

Lotte wishes to invest in large-scale projects in Vietnam, he said.

The same day, the PM received representatives of Hyundai Motor Group, which has invested 415 million USD in Vietnam, suggesting it pour capital into green transport, transfer technologies to Vietnam, raise localisation rate, support Vietnamese firms to join supply chains and train personnel, and pay more heed to social welfare activities.

He called on Hyundai to sponsor and invest in the field of football in Vietnam. Regarding this, and the group's leaders said they would take the matter into consideration seriously.

The group’s site noted its wish to step up operation in the Southeast Asian nation, and its readiness to transfer and invest in new technologies in Vietnam, especially in the context of the growing global and Vietnamese e-vehicle markets.

Hyundai hailed Vietnam’s strengths in high-quality, young human resources, saying it plans to roll out training programmes for Vietnamese professional talents for the auto industry.

At another meeting with Yeonin Jung, Vice Chairman/COO at Doosan Enerbility, PM Chinh highly valued the group’s practical, effective contributions to Vietnam in the production of industrial equipment and energy equipment, and supported and welcomed its new solutions and technologies in green and clean energy.

Doosan Enerbility’s representatives informed the PM about the business’s investment plans, saying Doosan Enerbility wishes to sign cooperation documents with Vietnamese enterprises in clean energy and emission reduction.

Receiving Korea Federation of SMEs (KBIZ) Chairman Kim Ki-moon and Industrial Bank of Korea (IBK) Chairman and CEO Kim Sung-tae, the PM called for their support for Vietnamese small-and medium-sized enterprises./.

Vietnam Airlines welcomes 15 millionth passenger on Vietnam - RoK route

Vietnam Airlines has marked 30 years of direct flights between Vietnam and the Republic of Korea by welcoming its 15 millionth passenger and signing agreements with partners during the ongoing official visit of Prime Minister Pham Minh Chinh to the East Asian nation.

Over the past three decades, the national flag carrier has run 65,000 flights, transporting 15 million passengers and 291,300 tonnes of cargo between the two nations. The airline now operates six direct routes linking Hanoi and Ho Chi Minh City with the RoK’s Seoul and Busan as well as Da Nang city and Cam Ranh city of Khanh Hoa province with Seoul, with 112 flights per week.

Despite the severe impact of the COVID-19 pandemic, proactive measures by the airline and market recovery efforts resulted in passenger volume return to pre-pandemic levels last year. In the first five months of 2024, it served over 562,000 passengers.

Chairman of Vietnam Airlines Dang Ngoc Hoa said it plans to further seek and expand opportunities for cooperation with airlines, partners, and stakeholders in the Korean market.

As part of PM Chinh's official visit, the carrier signed a memorandum of understanding for cooperation with Korean Air and four Korean travel companies. Under this agreement, the sides will work together to enhance investment, tourism, and mutual support in promotion and marketing activities, and aviation cooperation./.

Hanoi to turn fisheries into important sector

Hanoi plans to develop fisheries into an important economic sector with large scale, high value and good brand, meeting local demand for freshwater aquatic products and export standards.

The capital city is home to 30,800ha of water surface, including about 24,200ha for aquaculture.

Some concentrated, high-tech, and intensive aquaculture zones have taken shape and generated high value in the districts of Ung Hoa, My Duc, Chuong My, Phu Xuyen, Ba Vi, Thanh Hoa, Thuong Tin, and Thanh Tri.

The aquaculture output stood at some 26,800 tonnes in the first quarter of 2024, up 4.3% from the same period last year, statistics show.

Experts said despite the water surface advantage, local aquaculture has yet to live up to potential.

They explained that water for aquaculture is mainly sourced from polluted rivers, animal feed prices surge while sales remain unstable. Infrastructure in concentrated aquaculture zones hasn’t been developed comprehensively, thus hampering high technology application.

Nguyen Dinh Dang, head of the sub-department for livestock production, fisheries and animal health at the municipal Department of Agriculture and Rural Development, said there are 25,800 households engaging in aquatic farming at present, but most of them are smallholders. The majority of products are mainly sold domestically and have modest value. Meanwhile, farmers’ knowledge about intensive and semi-intensive aquaculture and food safety remains limited.

Tu Duc Manh, head of the division for economic affairs of Thuong Tin district, said to tackle difficulties facing aquaculture zones, the district is encouraging farmers to apply scientific and technological advances such as in-pond raceway and biofloc technologies or the intensive farming of carp, grass carp, and tilapia.

Local authorities are combining programmes to provide support for locals to implement aquaculture projects, comply with VietGAP standards, and form connection chains to boost sales via modern distribution channels, Manh noted.

Nguyen Thi Tuyet Anh, head of the economic affairs division of Thanh Tri district, said Thanh Tri has coordinated with the city’s sub-department for livestock production, fisheries and animal health to organise annual training courses for farmers, frequently tested water to assess the environment quality in farming zones, and given guidance in farming techniques, disease prevention, and environment management to ensure biological and food safety.

Nguyen Manh Phuong, Deputy Director of the municipal Department of Agriculture and Rural Development, said that to develop aquaculture, the department has also worked with localities to open training courses about fry, feed, and environmental treatment products, conduct monitoring, and issue environmental warnings.

He added it will also enhance management of aquaculture, boost cooperation with other provinces and cities in the sale of aquatic products, expand aquaculture in poor-performing rice cultivation areas, and supply financial aid in environmental treatment for farmers in concentrated aquaculture zones.

Besides, Hanoi will build a plan on fisheries development by 2030, with a vision to 2045; reorganise production to raise productivity, quality, and value; and form industrial and high-tech farming zones. It targets that by 2030, the aquaculture area will reach 25,000ha, including 10,000ha of concentrated zones, with annual productivity of about 15 tonnes per ha.

At the same time with turning fisheries into an important economic sector, the city is set to ensure water drainage, prevent flooding, and reserve water resources, Phuong went on.

In particular, the city is promoting high-tech, organic, and ecological aquaculture programmes and models to bring down production costs, increase value, and boost sustainable development.

Infrastructure for concentrated aquaculture zones such as water supply and drainage systems, transport facilities, and environmental treatment systems will be further developed. A system of high-quality aquaculture breed production will also be built, with priority given to the species with high economic value and potential, according to the official./.

Commission proposes measure for anti-IUU fishing cooperation with Vietnam

The Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) has contacted the Vietnamese Government to propose a cooperation opportunity through voluntary participation in the commission’s Catch Documentation Scheme (CDS) for toothfish.

Talking to the Vietnam News Agency, Todd Dubois, Fisheries Monitoring and Compliance Manager at the CCAMLR, said it is highly concerned about illegal, unreported and unregulated (IUU) fishing in the Convention on the Conservation of Antarctic Marine Living Resources (CAMLR Convention) Area.

IUU fishing seriously decreased toothfish stocks and undermined the CCAMLR’s conservation targets as well as the science supporting reasonable use of marine living resources in the Antarctic. The CCAMLR has taken some measures against IUU fishing, including the launch of the CDS for toothfish, he noted.

Dubois said the CDS is an electronic system designed for tracking toothfish from the time catches arrive at ports and throughout the commercial cycle. It covers all toothfish species harvested and traded by member states. Through this measure, the CDS helps differentiate toothfish harvested legally and illegally, and prevent the import of illegally caught toothfish to into the world’s largest markets.

The CCAMLR has encouraged the country to consider cooperating with it by implementing the CDS, he went on, affirming the CCAMLR’s readiness to give all-round support if Vietnam wishes to work with the CCAMLR via the CDS participitation.

By doing so, Vietnam will also be able to help the CCAMLR realise conservation targets and assist with global efforts against IUU fishing, according to Dubois./.

Vietnamese tourism promoted in Germany

The Vietnam National Authority of Tourism (VNAT) in coordination with the Vietnamese Consulate General in Frankfurt city of Germany have organised a programme to promote Vietnam as a friendly, attractive and safe destination to key European markets in general and Germany in particular.

It offered an opportunity for Vietnamese and German travel firms to share experience and step up exchanges.

VNAT General Director Nguyen Trung Khanh said both sides boast significant potential to complement each other in cooperation and development, especially in tourism.

He also highlighted Vietnam's potential and advantages to further develop its unique tourism products, noting agriculture and community-based tourism, traditional craft villages, cultural festivals, and cuisines from the Southeast Asian nation are favoured by foreign tourists.

Many Vietnamese tourist destinations and products have been ranked among the world's best by reputable travel websites such as the World Travel Awards, TripAdvisor, Telegraph, and major media outlets, he said.

Germany is one of Vietnam's traditional and major markets in Europe, Khanh said, adding 200,000 German tourists visited the Southeast Asian nation last year, equivalent to 88% of the pre-COVID-19 level, making it the third largest source of tourists to Vietnam in the European Union (EU).

Over recent years, the two tourism sectors have engaged in many cooperative activities, notably the signing of a memorandum of understanding between the Hue Tourism College and the FU Education Group of Germany in June 2023 regarding high-quality vocational training, the exchange of experts and lecturers, and the organisation of German language courses.

The launch of direct flights between Hanoi/ Ho Chi Minh City and Munich operated by national flag carrier Vietnam Airlines also creates more favourable conditions for German tourists to visit Vietnam.

Vietnam's tourism industry has conducted activities in Germany to boost tourism exchanges between the two countries. Meanwhile, the Vietnamese Government has waived visas for German visitors since 2015, and extended the temporary stay for them to 45 days starting from August 15, 2023./.

Five-month crab exports to China skyrocket by 502%

Vietnamese crab exports to the Chinese market during the opening five months of the year soared by 502% to reach more than US$41 million, thereby turning China into the largest consumer of Vietnamese crab, according to statistics released by the General Department of Vietnam Customs.

Statistics indicate that crab exports have seen constant growth since the beginning of the year, with export turnover surging by 76% to more than US$97 million.

China and Hong Kong (China) remain the largest import markets of Vietnamese crabs and other crustaceans, accounting for 42% of the total export turnover.

Most notably, crab and other crustacean exports to the highly lucrative market in May escalated by 418% on-year to nearly US$11 million.

Meanwhile, crab exports to the Japanese market has endured a downward trend over the past two months. The country’s exports to the demanding market in May dropped by 9% to more than US$6 million.

However, thanks to robust growth seen in the first quarter of the year, exports to this market during the five-month period edged up by 7% to nearly US$29 million.

Elsewhere, exports to the United States and Canada have been growing positively with respective rises of 32% and 54%. In contrast, crab exports to the EU plunged by 58% compared to the same period from last year.

According to experts, the “yellow card” that the European Commission (EC) imposed on Vietnamese seafood regarding illegal, unreported, and unregulated (IUU) fishing continued to impact Vietnamese seafood exports to this market.

Malaysian officials share experience in sustainable fisheries development

Adnan Hussain, Director General of the Department of Fisheries Malaysia under Malaysia’s Ministry of Agriculture and Food Security, and Sumathy Permal, head of the Centre of Maritime Security and Diplomacy (MSD) of Malaysia, have shared their experience in sustainable fisheries development and cooperation with Vietnam in the field.

Malaysia places high priority on ensuring the sustainability of fisheries resources while recognising the importance of developing the fisheries sector, Hussain told the Vietnam News Agency in Kuala Lumpur.

He said that Malaysia’s will to promote sustainable fisheries sector was demonstrated in its National Agrofood Policy 2021-2030 (NAP 2.0), which has been transformed into a strategic action plan. The documents, along with other relevant policies and guidelines, form the “backbone” of the country's management of its resources and the development of its fisheries sector, the official stated.

Along with applying measures to reduce its dependence on fishing, Malaysia has worked to restore maritime environment and empower local fishermen in managing reserves, he said.

He said that rampant illegal fishing activities in Malaysian waters are causing the country to lose MYR3-6 billion (US$637 million) each year. In an effort to tackle illegal fishing, Malaysian authorities have focused more on implementing the Monitoring, Control and Surveillance (MCS) scheme following the Fisheries Act 1985. The MCS is an integral part of fisheries management, which includes monitoring and handling fishermen who do not comply with local and national laws, sub-regional or regional conventions, and other relevant regulations, he added.

The official also underlined Malaysia’s cooperation with neighbouring countries in aquatic resources management, emphasising that if a country is protecting threatened and endangered species, then its neighbours should do the same.

He noted that the rate of illegal fishing in the country decreased 4% and the value of the catch rose 7% in 2021 compared to 2020.

However, Hussain said Malaysia is facing an immediate challenge from a lack of awareness and understanding among local fishermen, especially about maintaining fishery resources.

For her part, Permal said that in order to ensure responsible fishing activities, Malaysian fishermen are encouraged to use appropriate communications and navigation devices such as GPS, mobile tracking devices and automatic identification system (AIS), which not only assist them in fishing activities but also prevent accidental intrusion upon foreign waters.

Malaysia is very concerned about illegal, unreported and unregulated (IUU) fishing activities occurring within its national jurisdiction and beyond, she stated, underscoring that the environmental, social, and economic consequences of IUU fishing are enormous, adversely affecting both target and non-target species as well as the broader ecosystem.

Permal emphasised that the Malaysian Government aims to strictly handle illegal fishing by foreign vessels, thereby protecting the country's maritime sovereignty and aquatic resources.

Commenting on the Vietnam - Malaysia fisheries cooperation, Hussain said the two countries have enjoyed good relations both at the bilateral and regional levels in the field.

The two governments have signed a Memorandum of Understanding on agricultural cooperation and another on the establishment of a Technical Working Group on Fisheries to conduct bilateral exchanges on fisheries issues. Malaysia and Vietnam have been cooperating in other areas on multilateral platforms namely the ASEAN Sectoral Working Group on Fisheries (ASWGFi), the Southeast Asian Fisheries Development Centre (SEAFDEC), the Network of Aquaculture Centres in Asia-Pacific (NACA), and the Regional Plan of Action to promote responsible fishing practices, including combating IUU fishing, he noted.

Ho Chi Minh City to host Vietnam Medipharm Expo 2024

The 22nd International Medical, Hospital and Pharmaceutical Exhibition - Vietnam Medipharm Expo 2024 is set to run from August 1 to August 3 at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City.

This annual event is organised by the Vinexad JSC. and HCM City Medical Equipment Association (HMEA) under the Ministry of Health's auspices, serving as a pivotal platform aimed at fostering co-operation and business expansion within the nation’s burgeoning medical and pharmaceutical sectors.

The global medical device market is expected to enjoy robust growth, increasing from US$637.04 billion in 2024 to US$893.07 billion by 2029, with an annual growth rate of nearly 7%.

The country’s medical device market is experiencing a compound annual growth rate (CAGR) of 10.2%. This growth is largely fueled by factors such as an aging population, growing standards of living, and incentive policies aimed at attracting foreign investment whilst promoting technology transfer.

The exhibition therefore offers a good opportunity for industry players to display their products and services amidst this promising landscape. Over its two-decade history, Vietnam Medipharm Expo has solidified its reputation, expanding in scale whilst attracting a growing number of exhibitors each year. It remains a key event for stakeholders looking to explore the dynamic Vietnamese healthcare market and to capitalise on its ongoing development trajectory.

During the past 20 years, the Vietnam Medipharm Expo in the southern city has established its reputation and quality, thereby attracting a growing number of exhibitors annually.

VN-China trade hits nearly $100 billion

Bilateral trade between Việt Nam and China is reaching the threshold of US$100 billion, for the first six months of this year.

According to the Ministry of Industry and Trade, the bilateral trade between the two countries is recovering impressively despite on-ging global economic difficulties and geopolitical conflicts.

China remains the largest trade partner, the largest import market and the second largest export market to Việt Nam in the world.

Updates from the General Statistics Office showed that Việt Nam’s export to China reached $27.8 billion in the first half of this year, up 5.3 per cent over the same period last year. Việt Nam imported goods from China worth $67 billion in the reviewed period, up 34.7 per cent.

Việt Nam ran a trade deficit worth $39.2 billion with China in the period, up 67.9 per cent.

There is significant potential to promote trade between the two countries with a number of trade deals such as ASEAN-China Free Trade Area (ACFTA) and the Regional Comprehensive Economic Partnership (RCEP).

China is also applying to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The Việt Nam’s Trade Office in Beijing said that the Chinese economy is recovering positively. The Chinese Government is also issuing policies on import-export management which will create favourable conditions for exports into this market if products meet quality standards.

The trade office pointed out that Việt Nam has plenty of opportunities to increase exports to China. Chinese enterprises are showing interests in buying manufacturing and processing and agricultural products, especially fruits from Việt Nam such as durians, watermelons and bananas.

To date, a dozen agricultural products are exported officially to China, with negotiations being completed for the official export of fresh coconuts and frozen durians. 

Vietjet kicks off HCM City-Xi’an flights with super promotions for Chinese routes

Vietjet has celebrated the launch of its newest route connecting HCM City to Xi'an, the capital of Shaanxi Province in China at Xi'an Xianyang International Airport.

The event on Monday was graced by representatives from the Government and authorities of Shaanxi Province, airport officials, Vietjet leaders and passengers.

Following successful services to Shanghai and Chengdu, Vietjet now has direct flights between HCM City and Xi'an, a city renowned for its rich historical and cultural heritage.

The route, operating four round-trip flights a week, aims to foster deeper cultural and economic ties between the two cities and the neighbouring countries of Việt Nam and China, bolstering regional connectivity with Vietjet's flight network, the airline said.

PM asks management on advertising for food supplements to be tightened

Prime Minister Phạm Minh Chính has asked for tighter controls on advertising food supplements to prevent misunderstandings from distorted ads and keep up with market developments.

The Ministry of Health and relevant ministries must improve the legal framework and develop comprehensive solutions to effectively manage the advertising for these kind of foods and report back to the PM by July 15.

In early June, the Việt Nam Association of Functional Foods sent a document to the Government to propose a tightening of management of this food sector.

The association said that in 2000, there were just around a dozen food supplements in Việt Nam, mainly imported. However, the numbers have soared with tens of thousands of new products now registered every year.

The association quoted numbers from the Việt Nam Food Administration which reported that more than a hundred facilities were found to violate regulations on functional foods advertising between 2020-22 and were fined a combined total of nearly VNĐ5 billion (US$196,500).

The association said that up to 80 per cent of advertisements of products that support disease prevention and treatment on the Internet, social networks and e-commerce platforms, were misleading. 

Vietnam Medipharm Expo 2024 to be held in August

The 22nd International Medical, Hospital, and Pharmaceutical Exhibition - Vietnam Medipharm Expo 2024 is set to be held from August 1 to 3, 2024, at the Saigon Exhibition and Convention Center in HCM City.

This annual event, organised by Vinexad JSC. and HCM City Medical Equipment Association (HMEA) under the Ministry of Health's auspices, serves as a pivotal platform for fostering cooperation and business expansion within Vietnam's burgeoning medical and pharmaceutical sectors.

The global medical device market is projected to grow significantly, from US$637.04 billion in 2024 to $893.07 billion by 2029, with an annual growth rate of 6.99%.

In Việt Nam, the medical device market is also robust, valued at US$1.677,4 million, and experiencing a compound annual growth rate (CAGR) of 10.2 per cent. This growth is fueled by factors such as an aging population, increasing standards of living, and favorable policies aimed at attracting foreign investment and promoting technology transfer.

The exhibition provides a crucial opportunity for industry players to showcase their products and services amidst this promising landscape. Over its two-decade history, Vietnam Medipharm Expo has solidified its reputation, expanding in scale and attracting a growing number of exhibitors each year. It remains a key event for stakeholders looking to tap into Vietnam's dynamic healthcare market and capitalise on its ongoing development trajectory.

For over 20 years, The Vietnam Medipharm Expo in HCMC has established its reputation and quality, expanding its scale and increasing the number of exhibitors each year. 

Two Vinhomes projects granted permission to sell homes to foreigners

The Department of Construction of Hưng Yên Province has issued a document to Vinhomes JSC, confirming the approval for foreign organisations and individuals to own residential properties in two Vinhomes projects.

The province confirmed that the Dream City Ecological Urban Area project (Vinhomes Ocean Park 2) and the Đại An Urban Area project (Vinhomes Ocean Park 3), both developed by Vinhomes, are not located in areas requiring security and defence protection. Therefore, these projects fall within regions where foreign organisations and individuals are permitted to own residential properties.

The authority granted permission for foreign organisations and individuals to own up to 250 separate houses in each project.

The number of condominium units that foreign organisations and individuals can own in these two projects must not exceed 30 per cent of the total residential units in each building.

According to the Housing Law and the Land Law, which are expected to take effect from August 1st, foreigners will be allowed to own residential properties for 50 years, with an option to extend ownership for another 50 years if desired. The ownership duration must be clearly stated on the certificate of ownership.

The Vinhomes Ocean Park 2 project is located in Nghĩa Trụ and Long Hưng communes, Văn Giang District, Hưng Yên Province. Once completed, the project will provide approximately 124,000 apartments and over 2,000 semi-detached villas, terraced houses, and shophouses.

Meanwhile, Vinhomes Ocean Park 3 covers an area of 294 hectares in Tân Quang Commune, Như Quỳnh Town, Văn Lâm District, and Nghĩa Trụ Commune, Văn Giang District, Hưng Yên Province. It includes 10 apartment buildings and over 8,000 low-rise houses.

Agro-forestry-fishery runs a trade surplus of $8.28 billion, up 62.4 per cent

The agro-forest-fishery sector is showing robust exports, with a trade surplus of US$8.28 billion in the first half of this year, representing an increase of 62.4 per cent over the same period last year, according to the Ministry of Agriculture and Rural Development.

The latest updates of the agriculture ministry showed that Việt Nam earned $29.2 billion from exporting agro-forestry-fishery products in the period, up 19 per cent.

Major export products included coffee, rubber, rice, fruits and vegetables, cashew nuts, shrimp and wood products.

Specifically, rice exports reached 4.68 million tonnes worth $2.98 billion, up 10.4 per cent and 32 per cent, respectively.

Cashew exports reached 350,000 tonnes worth $1.92 billion, up 24.9 per cent and 17.4 per cent, respectively.

Coffee exports, despite seeing a drop of 10.5 per cent in volume to 902,000 tonnes, saw a rise of 34.6 per cent in value to $3.22 billion on rising export prices.

Five products which saw the highest trade surplus including timber and wood products (a trade surplus of $6.16 billion, up 22.5 per cent), coffee ($3.14 billion, up 36.2 per cent), fruits and vegetables ($2.42 billion, up 35.3 per cent), rice ($2.31 billion, up 27 per cent) and shrimp ($1.43 billion, up 13.3 per cent).

The US, China and Japan remain the largest export market for Việt Nam, according to the ministry.

VN-Index starts the new week on a positive note

The General Statistics Office announced that the gross domestic product (GDP) in the second quarter of 2024 recorded a positive growth rate, estimated at 6.93 per cent compared to the same period last year. This information helped the market start the new week on a positive note, with both the VN-Index and HNX-Index rising after a sharp decline at the end of the previous week.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 9.24 points or 0.74 per cent to close the trading session at 1,254.56 points.

The market's breadth was also positive as the number of gainers surpassed that of losers by 218 to 107. Liquidity on the southern bourse fell 37 per cent, down to VNĐ13.1 trillion (US$513.6 million), equivalent to a trading volume of 487 million shares.

The 30 biggest stocks tracker, the VN30-Index, climbed slightly, up 7.16 points or 0.56 per cent, to 1,285.48. Twenty-two ticker symbols in the VN30 basket edged up, while seven inched down and one ended flat.

Leading the market's uptrend were pillar stocks in the banking industry.

Data compiled by financial website vietstock.vn showed that the Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) was the biggest gainer on the market, with shares up more than 3.2 per cent, contributing over 1.3 points to the VN-Index gain.

It was followed by the Bank for Foreign Trade of Vietnam (VCB), up 1.06 per cent, the Bank for Investment and Development of Vietnam (BID), up 1.5 per cent and the Vietnam Prosperity Joint Stock Commercial Bank (VPB), up 1.88 per cent.

Other large-cap stocks that performed well included Mobile World Investment Corporation (MWG), up 5.45 per cent and Vietnam Airlines JSC (HVN) which increased 3.92 per cent.

Notably, shares of Vincom Retail Joint Stock Company (VRE) hit a new ceiling price following the news that two Vinhomes Ocean Park projects 2 and 3, have been granted permission by Hưng Yên Province to sell houses to foreigners. Specifically, shares in VRE surged by 6.85 per cent, contributing over 0.8 points to the VN-Index.

Limiting the rallies, some big stocks still faced strong sell-offs, such as FPT Corporation (FPT) which posted a decline of 1.46 per cent and Vietnam Technological and Commercial Joint Stock Bank (TCB) which lost three per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Monday. It rose 0.41 per cent, to 238.56 points.

During the session, more than VNĐ938 billion worth of shares, equivalent to a trading volume of 51 million shares, were moved on the northern market.

Foreign investors extended their net selling spree as they net sold over VNĐ790 billion on the HoSE. 

Việt Nam’s trade surplus hits $11.63 billion in the first six months of 2024

Việt Nam recorded a trade surplus of US$11.63 billion in the first six months of 2024, according to the General Statistics Office (GSO).

In the first half of 2024, export turnover is estimated to reach nearly US$190.1 billion, an increase of 14.5 per cent over the same period last year.

Of the total export turnover, the domestic economic sector reached $53.4 billion, an increase of 20.6 per cent, accounting for 28.1 per cent of total export turnover. The foreign-invested sector (including crude oil) reached $136.7 billion, an increase of 12.3 per cent, accounting for 71.9 per cent.

In the first six months, processed industrial goods exports were estimated at $166.8 billion, making up 87.7 per cent of total export value.

Regarding imports, import turnover of goods in June 2024 was estimated to reach $30.15 billion, down 7.9 per cent over the previous month and up 13.1 per cent over the same period last year.

Ending June, the import turnover of goods was estimated to reach $178.45 billion, up 17 per cent year-on-year. Production materials imports made up 94 per cent, totalling $167.73 billion.

In the first half, the United States remained Việt Nam's largest export market at $54.3 billion, and China is the largest import market at $67 billion.

Đinh Thị Thúy Phương, Director of the GSO's Trade and Service Statistics Department, emphasised the need to improve policies to create a favourable macro environment for exports and ensure a transparent business climate. Sustainable export growth should be pursued by diversifying markets and maintaining a healthy trade balance.

Authorities should enhance forecasting to warn businesses of potential risks, minimise trade defense investigation impacts, and prove that Vietnamese goods are not dumped. They should support industrial production, stimulate demand, and leverage free trade agremeents (FTAs), Phương said. 

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes